Mortgage Grapevine

Using New Credit Profile to buy a home?

Wanted to post this to see if anyone else has run into this scenario regarding new credit profiles and CPN numbers?

We had a client come to our office seeking a "non-government insured" loan to purchase a home.

When we inquired further as to the reason - he said it was because he was using an alternate credit profile number which he called a CPN?

The guy had a business that went under and destroyed his personal credit. He said he was referred to this underground credit guy that setup up a new credit profile for him using what is called a CPN number assigned by Social Security?

We pulled his credit on this number from all 3 bureaus and he is 760 mid score. Low score is 727

He said it cost him $6,500 and took 45 days start to finish.

What is the deal with this? How can this be possible? Is it legal?

I guess the guy doesn't advertise and is pricey. All I have is an email: creditxman@gmail.com

Anyone ever hear of this guy?

I sent an email but no reply yet.

I'm intrigued.


by wpfinancial May 12, 2008 12:00 AM


I would be really careful. File segregation is illegal
check this link out!! I hope this helps

http://www.gscsc.net/news/myths-of-cpn-numbers-3.html

These fraudulent credit repair companies would charge anywhere from $1,000.00 to $3,500.00 for these CPN numbers, and would place authorized user credit card accounts on the blank segregated credit file created using the CPN number. A majority of fraudulent credit repair companies out there are now charging $250.00 to $500.00 for CPN numbers, and some are charging $100.00 for them as well. No matter what the price is, you are being taken advantage of by these fraudulent service providers. Most of the CPN numbers that they issue do not cost them a single dime. The only real truth that these fraudulent credit repair companies will tell you is that the CPN numbers are issued at the federal government level, but they will then be dishonest by telling you that they have to pay for them. The myths of CPN Numbers is just that, a myth. CPN number usage was deemed illegal by the government, and will get you put in jail with a very stiff fine if you are caught with a CPN number. You can find detailed information about this at the Federal Trade Commission website. This is what happens when you buy a CPN Number:

1. You pay your fees for the CPN Number, and receive a nine digit number that appears to fall in the range and similar style of a true SSN number. Some are, but WATCH OUT! You just might have a social security number that belonged to someone who passed away!

2. Once received, you are instructed to change your name, address, telephone number, drivers license, and other personal information about yourself, and use the CPN number and altered information to fool the credit bureau computer systems into creating a new blank file, after an entity search is done, and no match is found on the data entered into the credit bureau’s computer system. Names, addresses, phone numbers, and the CPN number are all searched in the databases of the credit bureau, and when there is no match on the data, the system automatically creates a new credit file.

3. You are then instructed to open a small jewelry store account with a local store owner. Upon doing so, a new blank file is created in the credit bureau computer systems and credit can be built on the file. Once again, this is illegal, because you are fraudulently altering your data to get a new credit file created in the credit bureau computer systems. When you use the CPN number that was issued on an application for credit purposes, you are falsifying data, and that is a federal crime, and you will pay for it. Simply by providing false information, such as an altered name, address, city or state, telephone number or providing an altered license, and using the CPN number issued to you, you are commiting a crime.

4. After this, you are taught to build small amounts of credit on the newly created personal credit file. In doing so, you have a clean credit file and a credit score built, which is basically a new fraudulent credit file and fraudulent credit score not showing your previous credit history to potential creditors. You are breaking the law by using, accessing, or manipulating your personal data with the use of a CPN number to gain credit that you would not otherwise be qualified for, based on your existing credit history. The only way to truly repair your credit is to pay your bills on time, and negotiate settlements with your creditors. Time is the best way to resolve credit issues. Be responsible with your personal and business credit!

The CPN Number that is issued by these fraudulent credit repair companies is usually a TIN, or EIN (Tax Identification Number) or (Employer Identification Number), or it may in fact be, if you do a little Internet research, a D-U-N-S credit file number, an altered SSN number, or an SSN number taken directly from the death file of the SSA. Altered SSN numbers usually have the group ID portion of the SSN modified to allow it to be used as a so called CPN number, again another fraudulent method of creating and charging unsuspecting clients for CPN numbers for the purposes of fraudulent personal credit repair. In any case, the only number that the fraudulent Internet business has to pay for is the D-U-N-S credit file number. The other numbers are free to obtain, and this also includes the SSN numbers pulled from the death file of the Social Security Administration. Most unsuspecting clients pay the fees to these fraudulent Internet based credit repair companies, and are ripped off right from the start. You don’t realize what you’ve been charged for, and you also do not realize that the authorized credit card accounts that you’ve also purchased may in fact carry their own credit problems as well. You may take the fall for someone else when you may not be responsible for that person’s account, and put yourself at high risk for possible payment for something that you never had access to in the first place. In addition to this, by providing your personal information to these fraudulent credit repair companies, you are putting yourself at high risk for identity theft, and this could cost you everything! Simply stated, just don’t fall into this trap. If you want to have your credit repair done properly by a bonded and licensed company, we can help you. Just visit our personal credit repair page at: http://www.gscsc.net/personal-credit-repair.htm or feel free to call us at any time at: (800) 922-5170.
by t605816 May 12, 2008 12:00 AM



by flabroker68 May 12, 2008 12:00 AM



by flabroker68 May 12, 2008 12:00 AM


I´ve never heard of creditxman@gmail.com but here is a post I just found on the subject:


What is a credit privacy number?


***The Credit Privacy Number!***


The CPN is a nine-digit number that has the exact same genetic makeup of a Social Security Number. This is not a government issued number like an EIN or TIN. This number is NOT a new social and NOT a tax ID or EIN. It is simply an available file number at the credit bureaus that can have financial information reported. You have the right to establish this number only once, so do not abuse it. This explanation is not here to advise anyone to misrepresent your Social Security Number, as you are completely responsible for any debts you incur using your Credit Privacy Number.

It is your legal right to keep your Social Security Number private, and use a separate number for any credit related purposes. You are only required by law to disclose your Social Security Number to the Internal Revenue Service, your employer, when registering a motor vehicle, buying a firearm, or applying and obtaining a federally-insured loan such as FHA, Sallie Mae, etc. I encourage you to use the laws to your advantage. Each credit bureau works on a different schedule.

In addition, the CPN is used by celebrities, congress members/government workers, and witness protection reasons. For example, celebrities use it because the media can use their SS# to track what they are buying and where they are simply by tracking their credit cards. Further, in example, congress holds special privileges to the law; therefore, their privacy needs to be protected. In another example, witnesses under protection can be located if they use their true social security number for transaction. This is the reason why there is the existence of a Credit Privacy Number program.

Legality of the CPN:
Presently, federal law allows the ability for someone to legally use a private ID # for financial reporting purposes instead of a Social Security Number. Title 5, Section 7 of Publication Law 93-579 of Government Organization and Employees Act:

...(a) (1) It shall be unlawful for any Federal, State or Local Government
Agency to deny any individual any right, benefit, or privilege provided by
law because of such individual´s refusal to disclose his or her´s Social
Security Account Number.

The law states that No federal, state, or local government agency may deny you any right, privilege or benefit due to your refusal to provide your SS # for any other reason than producing money for retirement account with the Social Security Administration, the IRS and your employer today. Credit Bureaus are not legally allowed to "require" your Social Security Number. In our country´s present credit reporting system a person may be assumed guilty and then must expend a great deal of time and resources to prove his or her innocence. Additionally, once a negative item is in a credit file it may remain long past the 7 year time period most people believe is used. Additionally, a misreported item can show up in a credit report multiple times.

When it comes to credit, banking and loans, there are two things you must know. The first relates to the law pertaining to the usage of your social security number as an identification tool. The second, credit bureaus are private companies and are not affiliated with the government in any way, whatsoever. Although, the credit bureaus would like you to think otherwise.

---What all this means is Federal Law protects those who do not wish to disclose their personal information (SS#) except when required to do so. All that to say: Instead of a Social Security Number, with the right planning, you now have the opportunity to establish a Credit Privacy Number (CPN), as it is your right to have one.

For more information, contact creditunderground@gmail.com

by flabroker68 May 12, 2008 12:00 AM


The CPN profile has been around and quite successful for many years. We have had clients purchase real estate, vehicles, etc. It´s legality has always been argued and considered a gray matter. The CPN profile is probably short lived due to lender scrutiny in the past few months. We have developed the Name Change Credit Profile which is legal and successful. Our first test client purchased 12 properties (9.7M) FHA, no money down with an approximate score of 790.

Jim Frey
AlternateAves.com
by AlternateAves.com May 30, 2008 12:00 AM


i would sincerely plead to get some more info on the Name change credit profile. I am no sort of scam artist, i own a construction company and could potentially use it for my clients and even immediately for myself as i have fallen from grace having an amex black card and living the life to trying to rebuild myself and its immpossible without credit i had two open heart surgeries in the past 6 months and have had to go bankrupt, i can really truly use some help, i would be eternally frateful, email is johnz616@yqahoo.com, thank you and god bless, i cant afford to get ripped off by these crazy cpn or repair companies... i have a wife, 4yr old, and 14 yr old to try and get everything back for and support, i am a god fearing man and i am 100% genuine. thank you, i will keep the info to myself...
by johnz616 June 8, 2008 12:00 AM


I spoke to a lady name Debra: she said the gscsc.net is a huge scam and fraud. I never dealt with them but we were just sharing experienes of scams and she said that they are HUGE scams.
by LeaW June 19, 2008 12:00 AM


Yes it is legal I own a company that offers them (New Credit History)

I am full time in the Mortgage Field..I am a branch manger in Richmond VA…I have been doing this for 10 years…3 years ago I started helping only my clients with this program…most I kept from having to file chapter 7,13, go through a foreclosure, and consult credit counseling( I am not a credit counselor) I do something better…I have helped clients get jobs by having a clear history…you need to understand …( felonies, D.U.I’S’s, judgments, liens, child support), will all be clear on this report..Now I will screen every person that calls or emails …this is to make sure they are not fugitives or running from the law..

Q. What is a SCN Number (SCN)?
A. Secondary credit number is separate from your social security number used to protect your Social Security number from Identity theft.

Q. Where does the number come from?
A. An idependent third party.

Q. How long does it take to receive the number?
A.Typically it takes 24hrs but no longer than 48hrs.

Q. Is this legal?Yes
A. You can use the existing laws to your advantage for a change. Due to certain rights guaranteed by the 1974 US Privacy http://www.usdoj.gov/oip/privstat.htm Act Title V, you have the right to keep your Social Security Number private and not be denied service due to your refusal. The credit bureaus are not government agencies, so you do not have to give them your Social Security Number. To answer the question, YES if used properly. Thousands of people have done it over the past 30yrs and continue to do so.

Q. Can you use the SCN Number to refi on a mortgage?
A. No. Due to the loan being in your Social Security Number or EIN, it would have to be
refi the same way.

Q. Can I use the SCN to rent a apartment?
A. Yes. We suggest establishing some credit before doing so. Reason being, most
landlords want to see some kind of credit history to determine if your a high risk or not.

Q. What will my new FICO Score be? 700?
A. Your credit profile will be blank. You will need to reestablish your credit by applying
for credit cards and other lines of credit. http://www.badcreditoffers.com/creditcards/nocredit/

Q. What can I use my new SCN Number for?
A. As mentioned earlier, you can use your new SCN Number for anything that would normally require credit reporting purposes. Use it to receive credit cards, car loans, a mortgage, personal loans; etc.

Q. Can I use the SCN Number to open a bank account?
A. Yes we believe so as long as you never bounce a check or misuse the account in any way



by New Credit June 28, 2008 12:00 AM



by kiyanammarie July 19, 2008 12:00 AM


I am a young entrepreneur who has falling on really hard times after my business crashed, filed bankruptcy and my wife left me. I am tired of being down on myself and I need to rise to the occasion and give life another shot having learned from my past mistakes. I have a child and an extended family needing my help.

A gentleman I know have talked about CPN but having read the comments on this board, I now realize he may be correct afterall regarding the legality of CPN/SCN but not truthful as far as how to go about it. His asking price along with helping to restore my credit is grossly overpriced in the thousands.

I do like some more information on this, please. I am a law abiding citizen with absolutely no criminal record of any kind. Anyone willing to provide me more information in any helpful way please email me discretely at chieflord73@yahoomail.com and will respond within 24 hours. Looking forward to hearing from you. Scammers please don´t bother because I will absolutely ignore you.

Thank you.
by Chieflord September 23, 2008 12:00 AM


Oopss...correct email address: chieflord73@yahoo.com

Thanks.
by Chieflord September 23, 2008 12:00 AM


new credit please contact my at rosserproperties@yahoo.com would love your service
by rosserproperties September 25, 2008 12:00 AM


New credit please contact me at iwantaloan2000@yahoo.com I have some questions.

Kabuki56
by Kabuki56 October 19, 2008 12:00 AM


New Credit please contact me at zariasan@live.com. Would love your service. by Sannic
by Sannic October 19, 2008 12:00 AM


New Credit please contact me at mrskates65@yahoo.com. Would like to discuss your service.




by Mr. Skates October 19, 2008 12:00 AM


Or the legal alternative is to have your clients come through a legitimate credit restoration program. We have over 14 years experience in the credit restoration industry, we help LO´s all over the country close more loans every day helping raise their clients credit scores.

Check us out online: http://iwantgoodcredit.com

We are registered and a fully legal credit repair agency with excellent references. We have an independent report showing proof of the results we have achieved for one of our premier mortgage partners. They have seen an average credit score increase of 50-60 points with increases as high as 150 points.

If you could use a legal solution that is proven to work with a reputable firm that won´t harm your reputation or steal your client’s money and deliver no results, then please call us today.

We can help you start closing more loans today; everyone out there has boxes full of dead files, why not turn some of those deals into closed loans? Not to mention the customer service your clients will receive when you help them get into their new home when no one else would!

Feel free to call us about any files you have, we will be happy to evaluate them at no cost and give you a full assessment of what can be done to help!

We look forward to working with all of you!

Mike Collins
CommonWealth Credit Restoration
469-232-3500
info@commonwealthcreditrepair.com

by commonwealthcredit October 20, 2008 12:00 AM


I am in a similar situation as the others. My credit last month was 750 with over 3 million in credit. Due to the market downturn I must let my 4 properties go into foreclosure. Please email me with information for your servives. Thanks!

wmconsultant.brent@gmail.com

Brent
by MortgageGuy8509 November 1, 2008 12:00 AM


CPN are LEGAL. We have been in the mortgage business for 12 years and been using CPN Files for past 7.

BTW, we also dont charge an arm and leg to get you a new credit file.

Our goal is to get you a 725 FICO and then earn your business thru getting a mortgage thru our mortgage company.

We offer many different packages, please visit us @ www.725fico.com
by 725FICO November 7, 2008 12:00 AM



by ms.needcreditnow November 20, 2008 12:00 AM


I really want to have great credit for once in my life! as a teen i didnt know the value of credit however as an adult i am still curently trying to fix teen mistakes.I would really love for someone who can truely help me in my adult like to prove that im now responsible.
boobash2003@yahoo.com
by goodgirlbadcredit November 24, 2008 12:00 AM


New Credit please send me more info on your SCN program. You can reach me @ brandishotwell@hotmail.com
by hotspot25 December 1, 2008 12:00 AM


NEW CREDIT PLEASE CONTACT ME osolace1@yahoo.com
by lesliec21 January 17, 2009 2:32 AM


This message is for New Credit. Please contact me asap 678-699-5650. dianj1@att.net I need your services.
by Dianj1 February 2, 2009 5:50 PM


NEW CREDIT:

please contact me at conciseconsulting@yahoo.com to discuss how you can help one of my clients.
by HOPE2008 February 4, 2009 1:27 AM


NEW CREDIT

Please email me about SCN Numbers.

foxhills_adrienne@yahoo.com
by Ms. T February 4, 2009 8:28 PM


New credit please email me at bananahannah72@hotmail.com. I need your services.
by hannah72 March 5, 2009 11:08 PM


New credit please email me about scn numbers

fishdude22@aol.com
by ainamano March 25, 2009 7:37 PM


New Credit please contact me for SCN number

pehill716@gmail.com
by p716 March 31, 2009 8:26 PM


I have taken everyone of you who is advertising products like this and turned you in to multiple authorities. No bullshit. Post back in several months and tell us how the audits went. You are cheating fools.

I like the one line above "Q. Where does the number come from?
A. An idependent third party."

Who is the 3rd party? ROFLMAO

by Jose Morales April 2, 2009 8:11 PM


Newcredit ---- please contact me ASAP at venusbb09@gmail.com


by nocredit June 12, 2009 12:37 AM


The credit pofiles here are only $795 and the tradelines that take your score up are $300: http://recredit.site40.net/
by tamekariley December 5, 2010 1:31 AM


CPNs are very complicated. I've been in the credit enhancement business for over 5 years and in that time I can tell you some truths about this technique. First off all, the term (CPN) or (credit privacy number) is a marketing term. It's not an offical term and it's not a number that is issued by the government. It's just a fancy way of creating a new credit file within the credit bureaus to hide past credit information from future creditors. Before this term was introduced, people used EIN numbers that they got from the IRS which are supposed to be used for businesses. This is just a new spin.

First off all, nobody truly knows where the number comes from. The number is not reliable. In most cases it's made up, it's an EIN or it's the SSN of child, a deseased person or someone in jail. The thing about it is that it works if done right but the people "selling" these numbers are just asking for trouble. But the question that everyone is asking is whether this practice is legal. Well, look up all the information online about CPNs and you will notice that all the websites cite the 1974 credit act but pay close attention to what they all say at the end - don't default on loans or lines of credit obtained using this method or else..... Well, here is the problem. It's either legal or it's not. so, if you're gonna get in "trouble" if you default on a loan then that means that by paying it on time as agreed you are simply hiding the fact that you misrepresented your social security number which means it's straight up fraud. let me put it another way. have you ever been late on a payment or defaulted on a loan? most people have. are they in jail? no. because things happen to people that cause them to be unable to make payments. but supposedly if you default using a cpn, you will have legal trouble. why? because now it looks like you used a different number on your application for the sole purpose of defrauding the bank.

So now here is the real issue and this is the true answer. INTENT. Fraud is a very difficult thing to prove in a court of law. Intent has to be proven. It has to be proven that you borrowed money with the INTENT to never pay it back and to defraud the lender. So it's here that the question whether it's legal or not comes into play. It still remains a very gray area.

Some people don't mind gray areas. Some do. It's your call.


Best of luck....

by christian998 December 8, 2010 7:54 PM


New Credit in Richmond VA I would love your help. Please contact me at bl2466@yahoo.com. thanks
by jblb24 July 30, 2012 4:03 PM


CPN's are Legal Need new credit with a established line of credit call me @917.300.9315 or contactus@woodallrobinsongroup.com
by ecw311 June 8, 2013 3:39 AM


www.cpncreditandrepair.com 312-857-8612 I can get you a cpn, tradelines and funding, CPNs are legal and have been for many years.
by mariacox July 2, 2013 12:11 AM


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